Look up: benchmarking

1. 
   benchmarking
   A performance standard against which operating performance is measured, which is used to identify performance improvements and best practices in an industry.
   Found on http://www.fmi.org/facts_figs/glossary_s
   
   
2. 
   Benchmarking
   A method used by public sector organisations, charities and private companies for gauging their performance by comparing it to the performance of other organisations, typically of a similar size. The government encourages public sector bodies to compare their score on various published performance indicators as way of improving public services. Many organisations are now members of so called 'benchmarking clubs' in which they compare published and unpublished performance information.
   Found on http://society.guardian.co.uk/glossary/p
   
   
3. 
   Benchmarking
   The continuous process of measuring companies in similar service areas against strong competitors or recognised industry leaders. Benchmarking is used by regulators to improve performance and can be applied to all facets of operation. It requires a measurement mechanism so that the performance gap can be identified.
   Found on http://www.greenconstruction.co.uk/gloss
   
   
4. 
   Benchmarking
   The process of comparison of performance between business units, companies, sectors etc in order to establish change.
   Found on http://www.sd3.co.uk/glossary.html
   
   
5. 
   Benchmarking
   involves comparing the measures in your organisation for certain factors with those in a similar organisation as a way to set and understand your own standards
   Found on http://www.epaw.co.uk/EPT/glossary.html
   
   
6. 
   Benchmarking
   Benchmarking is the term given to the process of measuring standards of actual performance against those achieved by others with broadly similar characteristics.
   Found on http://www.teachernet.gov.uk/management/
   
   
7. 
   benchmarking
   the process of re-estimating statistics as more complete data become available.Estimates are usually calculated using only a sample of the universe(total count) Category: Statistics • The establishment of a criterion,standard or reference point against which to establish targets and measure progress Category: Man and society
   Found on http://www.mijnwoordenboek.nl/definition
   
   
8. 
   benchmarking
   Method of measuring performance against established standards of best practice. ... (12 Dec 1998) ...
   Found on http://www.mondofacto.com/facts/dictiona
   
   
9. 
   Benchmarking
   The practice of one company identifying the leading company in its particular industry. It then sets out to measure its own performance in comparison with the market leader and undertakes to take action to narrow the gap in terms of its own performance. It allows firms to find and adopt best practice. :: NDP (9th Edition) :: InterTradeIreland (8t ...
   Found on http://www.business2000.ie/resources/Glo
   
   
10. 
    Benchmarking
    `Benchmarking` (also `best practice benchmarking` or `process benchmarking`) is a process used in management and particularly strategic management, in which organizations evaluate various aspects of their processes in relation to best practice, usually within their own sector. This then allows organizations to develop plans on how to adopt such best practice, usually with the aim of increasing some aspect of performance. Benchmarking may be a one...
    Found on http://en.wikipedia.org/wiki/Benchmarkin
    
    
11. 
    Benchmarking
    A systematic process of continuously measuring an organization's critical business processes against business leaders anywhere in the world to gain information which will help the organization take action to improve its performance. Steps include Planning the Study, Collecting Information, Analyzing Results, Implementing Improvements.
    Found on http://quality.org/TQM-MSI/TQM-glossary.
    
    
12. 
    Benchmarking
    A measurement process that establishes goals, operating targets and production expectations and can be used for comparison in an effort to achieve maximum efficiency of operation, i.e job evaluation, rating of performance, cost estimating and standards.
    Found on http://www.mhia.org/learning/glossary/b